Cryptocurrencies
China Crypto Crackdown Elicits Binance, Tron Weibo Appeal
- Shanghai regulators ordered crypto-related firms to quit
- Suspensions come after Xi Jinping’s remarks triggered frenzy
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Crypto giants Binance Holdings Ltd. and Tron have been banned on China’s largest micro-blogging service amid what appears to be fresh steps to crack down on digital currency trading.
The official accounts of exchange operator Binance and blockchain platform Tron were suspended by Twitter-like Weibo last week. At the same time watchdogs in Shanghai issued notices calling for a cleanup of companies involved in cryptocurrency trading, while one in Beijing warned against illegal exchange operations.